India's Aging Population

In Future,It is quite evident that India is going to have more aged population than present, The Indian Government must be ready for this extra pressure.

In 2050, there will be more people older than 60, than their would be younger than 15.

Age dependency ratio of India is also on the rise, it is currently 14 from 10 few years back, while Japan has 42. Some European countries have this number between 25-30.

Indians do not enjoy UBI(Universal Basic Income)

India, do not have a social security system,or a universal basic income scheme.

The fall in interest rates by Central bank, has also made Employees Provident Fund Organisation to worry about its returns.

Even Public Provident Fund(PPF), has also decreased returns over investment.

International Scenario

Countries like US, Japan China, Australia, are considering to increase the retirement age.

For most public and private sector jobs, retirement age is 60 years old.

Central Universities and PSUs must consider increasing their age.

We can also learn from the example of Canadian Pension Plan Investment Board which invests heavily in the projects of central- state governments as well as the PSUs. Gulf Countries also have pension funds.

India can also learn from the model of France and Australia.

While solving problem of unemployment, we must insure that Indian have adequate savings in their bank accounts.

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